Market Overview: Worldcoin/Tether (WLDUSDT) on 2025-12-11

Summary
• Price declined from $0.653 to $0.587, forming bearish engulfing patterns near key resistance.
• RSI indicates oversold conditions, while Bollinger Bands show tightening volatility.
• Volume surged during the initial break above $0.64 but dropped significantly during the downward phase.

Worldcoin/Tether (WLDUSDT) opened at $0.627 on 2025-12-10 at 12:00 ET, reached a high of $0.653, and closed at $0.587 by 12:00 ET on 2025-12-11. The 24-hour volume amounted to approximately 12,595,400 units, with a notional turnover of $7,850,000.

Structure & Formations

The price action formed a bearish engulfing pattern near the $0.64–$0.65 resistance zone, followed by a deep pullback. A doji appeared at $0.635, signaling indecision. Key support levels formed at $0.625 and $0.585, while resistance levels appear at $0.64 and $0.651.

Moving Averages

On the 5-minute chart, the price closed below both the 20-period and 50-period moving averages, confirming a short-term bearish bias. On a daily basis, the 50/100/200 MA structure would show bearish alignment if the daily close holds near $0.587.

Momentum and Volatility

The RSI dipped into oversold territory near 28, indicating potential short-term reversal potential. Bollinger Bands tightened during the latter half of the session, suggesting a possible breakout in the near future.

Volume and Turnover

Volume spiked during the initial rally above $0.64, with a large candle forming on 2025-12-10 at 20:30 ET. However, turnover dropped sharply during the downward move, suggesting potential exhaustion in the sell-side. Divergence between price and turnover implies caution for future moves.

Fibonacci Retracements

A 38.2% Fibonacci retracement level aligns with $0.615, a 61.8% level at $0.594, and a 100% level at $0.585. The 61.8% level was briefly tested but not held, while the 100% level appears to be a strong support.

Worldcoin/Tether appears to be testing key support levels, with RSI suggesting short-term oversold conditions. A potential rebound from $0.585 could be followed by a retest of $0.615. However, traders should remain cautious as volume has declined significantly, and the trend remains bearish in the short term.